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Government is refusing to deal with mortgage crisis – Pearse Doherty TD

Sinn Féin Finance Spokesperson Pearse Doherty TD has stated the Government is refusing to deal with the mortgage crisis.

Deputy Doherty was speaking following the release of new figures from the Central Bank which show that there are still 90,343 mortgages in arrears of ninety days or more.

He said:

“It is frightening to think that the financial pressure created by this situation is negatively impacting more lives than the number of people who filed into Croke Park to watch the All-Ireland Football Semi-Finals at the weekend. That is the scale on the crisis at it stands. It cannot be hidden by the government spinning a slight reduction as a success.

“The reality is that here are no grounds for celebration in these figures. They confirm once again that this government will play no hand in solving the mortgage crisis. Minister Noonan will not step in to make banks pass on interest rates or cut excessive pay and he will not step in to tell them to get real about the mortgage crisis. This government is content to let the mortgage crisis unwind at the pace of the banks’ choosing. The increase in long term arrears points to this fact.

“Last month the Oireachtas Finance Committee produced a report following exchanges with the banks and mortgage holders’ groups. That cross-party Report contained 47 recommendations on how the Mortgage Arrears Process could be improved. There is no evidence that any one of those recommendations has been implemented.”